Summer Budget changes for owners of family businesses

Category: financial planning & Uncategorized

There are almost 3 million family businesses in the UK, employing 9.4 million people. These are estimated to contribute a quarter of the UK’s GDP and generate tax revenues of £102 billion, according to the Institute of Family Business. Family businesses are therefore crucial to the economic well-being of not only many families, but to the country’s economic growth ambitions. With that in mind, many family businesses will have been keeping a close eye on the Summer Budget, which announced a range of measures likely to impact them in some way.

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Is innovation the future of UK manufacturing?

Category: Economy & financial planning & Uncategorized

UK manufacturing executives say that their strategic focus going forward is one that is innovation led, supported by attractive UK corporation taxes like the Patent Box, according to the latest KPMG Global Manufacturing Outlook. The report found that nearly half (48%) of UK manufacturers said that their company’s strategic focus is on innovation and that only two per cent felt that UK taxes are a challenge to their business in the next 12–24 months.

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The dash for ‘pension freedom’ retirement cash slows down

Category: financial planning & Uncategorized

After an initial dash for cash following the introduction of pension freedoms in April 2015, customers are taking more time to consider their options, according to a Scottish Widows reported published on the 1st June 2015. From the initial surge at the beginning of April until the middle of May, Scottish Widows has seen a 72% drop in full pension encashment requests.

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Compulsory financial advice at retirement?

Category: financial planning & Uncategorized

Research from retirement specialist Retirement Advantage has found that two-thirds (65%) of people aged 55 and over who are not yet retired believe that it should be compulsory to receive financial advice at retirement. The provider is calling for a clear hand-off to regulated financial advice when people are seeking help to take the next steps at retirement.

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